What jet fuel shortages mean for airlines, travelers

A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn’t start flowing soon.

That means higher airfares and flight cancellations.

International Energy Agency Director Fatih Birol says Europe has maybe six weeks of remaining jet fuel supplies.

In general, some European countries hold several months’ worth of jet fuel inventory at a time.

That's according to a report this week from the IEA. Airlines have reacted with caution, acknowledging fuel issues but working to reassure customers.

Still, some carriers have already passed costs on to consumers by increasing fees for baggage and add-ons, embedding costs into ticket prices, or raising fuel surcharges.